Frontier Communications Parent, Inc. (NASDAQ:FYBR) Shares Sold by Comerica Bank

Comerica Bank trimmed its stake in Frontier Communications Parent, Inc. (NASDAQ:FYBR - Free Report) by 36.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 66,117 shares of the company's stock after selling 38,206 shares during the period. Comerica Bank's holdings in Frontier Communications Parent were worth $2,294,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. UMB Bank n.a. lifted its holdings in Frontier Communications Parent by 68.0% during the fourth quarter. UMB Bank n.a. now owns 1,050 shares of the company's stock valued at $36,000 after purchasing an additional 425 shares in the last quarter. Russell Investments Group Ltd. boosted its holdings in Frontier Communications Parent by 37.9% in the 4th quarter. Russell Investments Group Ltd. now owns 5,091 shares of the company's stock worth $177,000 after buying an additional 1,399 shares during the period. Blue Trust Inc. increased its stake in Frontier Communications Parent by 36.8% in the 4th quarter. Blue Trust Inc. now owns 5,883 shares of the company's stock worth $209,000 after buying an additional 1,581 shares in the last quarter. Impact Partnership Wealth LLC purchased a new position in Frontier Communications Parent in the 4th quarter worth approximately $228,000. Finally, Vestcor Inc purchased a new position in Frontier Communications Parent during the fourth quarter valued at $234,000.

Frontier Communications Parent Stock Down 0.1%

NASDAQ FYBR traded down $0.05 during midday trading on Wednesday, hitting $36.54. 435,654 shares of the company traded hands, compared to its average volume of 2,736,534. Frontier Communications Parent, Inc. has a 52 week low of $24.43 and a 52 week high of $39.21. The company's 50-day simple moving average is $36.02 and its 200-day simple moving average is $35.52. The company has a market cap of $9.14 billion, a PE ratio of -28.33 and a beta of 1.01. The company has a debt-to-equity ratio of 2.28, a current ratio of 0.77 and a quick ratio of 0.77.

Frontier Communications Parent (NASDAQ:FYBR - Get Free Report) last announced its earnings results on Tuesday, April 29th. The company reported ($0.26) EPS for the quarter, topping analysts' consensus estimates of ($0.33) by $0.07. The business had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.51 billion. Frontier Communications Parent had a negative net margin of 5.42% and a negative return on equity of 6.25%. The firm's quarterly revenue was up 3.5% compared to the same quarter last year. As a group, equities research analysts forecast that Frontier Communications Parent, Inc. will post -1.11 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Benchmark reiterated a "hold" rating on shares of Frontier Communications Parent in a research report on Tuesday, February 25th. New Street Research lowered Frontier Communications Parent from a "strong-buy" rating to a "hold" rating in a research report on Friday, February 21st. Finally, Raymond James lowered shares of Frontier Communications Parent from a "market perform" rating to an "underperform" rating in a report on Thursday, February 6th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $36.07.

Insider Activity at Frontier Communications Parent

In other news, EVP John Harrobin sold 36,000 shares of Frontier Communications Parent stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $36.01, for a total transaction of $1,296,360.00. Following the completion of the sale, the executive vice president now directly owns 76,523 shares in the company, valued at approximately $2,755,593.23. The trade was a 31.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.60% of the stock is currently owned by corporate insiders.

Frontier Communications Parent Profile

Frontier Communications Parent, Inc, together with its subsidiaries, provides communication and technology services in the United States. It offers broadband, video, voice, and other value-added services. The company also provides data and Internet, including broadband networking services; data-based voice over internet protocol, unified communications, long-distance, and voice messaging services; video services under the Frontier TV brand; access services; hardware and network solutions; and packages of services.